Bloomberg has reported that the U.S. Consumer Financial Protection Bureau, which was established by the 2010 Dodd-Frank Act, is considering whether to assert itself into the regulation of the consumer retirement investment business. Its chairman, Richard Cordray, is quoted as saying \u201cThat\u2019s one of the things we\u2019ve been exploring and are interested in in terms of whether and what authority we have\u201d. Institutions, including Fidelity Investments, the Vanguard Group, JPMorgan Chase & Co. and Charles Schwab Corp., hold more than $19 trillion in retirement assets, such as IRA and 401K accounts. The retirement investment industry is already heavily regulated by the S.E.C. and the Department of Labor. Since its establishment in 2011, the Bureau has focused its regulatory purview on consumer financial products like mortgages and credit cards.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bloomberg has reported that the U.S. Consumer Financial Protection Bureau, which was established by the 2010 Dodd-Frank Act, is considering whether to assert itself into the regulation of the consumer retirement investment business. Its chairman, Richard Cordray, is quoted as saying \u201cThat\u2019s one of the things we\u2019ve been exploring and are interested in in terms … <\/p>\n